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The Fiscally Insane Bailout Bill Might Not Pass -- Here Are 5 Reasons It Shouldn't
mycelium_obscurum
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9-29-2008 11:30 PM
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tags:
democrats
,
pelosi
,
frank
,
bailout
,
billions
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3d8c4bc3-da7c-4e05-bf83-18e6f223b178/73B980A2-0FB4-40F7-8C0D-59E8C2F345F5/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire" href="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire" style="font-size: 11px;">www.alternet.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire"><B>1.This Bailout's Inherent Fiscal Insanity Could Make Problem Worse</B></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire"><B>2. Experts on both the left and right say this bailout could make things worse</B></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire"><B>3. There are clearly better and safer alternatives</B></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire"><P><B>4. Any Incumbent Voting for This Puts Themselves At Risk of Being Thrown Out of Office</B></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire"><P>5. Corruption and Sleaze Are Swirling Around These Bailouts -- and America Knows It</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire"> <A href="http://www.cspan.org/pdf/marketsbill_draft.pdf">read the draft legislation here</A></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire">When an individual consumer uses a new credit card to pay off astounding debt from an old credit card, it's akin to check kiting, which is is illegal. Apparently, though, when the government does it, it's billed as Serious Public Policy.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/workplace/100700/the_fiscally_insane_bailout_bill_might_not_pass_--_here_are_5_reasons_it_shouldn%27t/?page=entire"><li style="margin-left:16px;padding-left: 0px;">In the Washington Post last week, <A href="http://www.washingtonpost.com/wp-dyn/content/article/2008/09/24/AR2008092403033.html" linkindex="40">Galbraith outlined a multi-pronged plan</A> shoring up and expanding the FDIC, creating a Home Owners Loan Corporation, resurrecting Nixon's federal revenue sharing, and taxing stock transactions (a tax that would fall mostly on speculators) to finance the whole deal.</LI></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/73B980A2-0FB4-40F7-8C0D-59E8C2F345F5/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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